Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $142.33 and traded as high as $175.54. Direxion Daily Financial Bull 3X Shares shares last traded at $174.02, with a volume of 331,894 shares changing hands.

Direxion Daily Financial Bull 3X Shares Stock Performance

The stock has a market capitalization of $2.40 billion, a P/E ratio of 15.11 and a beta of 2.60. The business has a 50-day moving average price of $153.15 and a 200 day moving average price of $142.33.

Institutional Investors Weigh In On Direxion Daily Financial Bull 3X Shares

Several hedge funds have recently added to or reduced their stakes in the stock. Morse Asset Management Inc grew its stake in shares of Direxion Daily Financial Bull 3X Shares by 31.9% in the third quarter. Morse Asset Management Inc now owns 327 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 79 shares during the last quarter. Bogart Wealth LLC raised its position in shares of Direxion Daily Financial Bull 3X Shares by 37.5% in the 1st quarter. Bogart Wealth LLC now owns 1,100 shares of the real estate investment trust’s stock worth $130,000 after purchasing an additional 300 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Direxion Daily Financial Bull 3X Shares by 154.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 621 shares during the last quarter. Cresset Asset Management LLC bought a new position in Direxion Daily Financial Bull 3X Shares in the 3rd quarter worth about $202,000. Finally, J.W. Cole Advisors Inc. boosted its stake in Direxion Daily Financial Bull 3X Shares by 7.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 1,246 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 87 shares in the last quarter. 3.51% of the stock is owned by institutional investors.

About Direxion Daily Financial Bull 3X Shares

Direxion Daily Financial Bull 3x Shares seeks daily investment results of 300% of the price performance of the Russell 1000 Financial Services Index (the Index). The Index is a subset of the Russell 1000 Index that measures the performance of the securities classified in the financial services sector of the large cap United States equity market. The Fund invests in sectors, such as banks, diversified financial services, real estate investment trust, financial data and systems, asset management and custodian, securities brokerage and services, and consumer lending.